UBS has expanded its prime brokerage coverage of Asia, with the appointment of Ashley Jarvis as its Asia-Pacific head of prime brokerage sales and global head of business consultancy. Jarvis was the head of prime brokerage business consulting services for Europe, the Middle East and Africa.
Prior to joining UBS in 2004, Jarvis was a senior consultant launching hedge funds with Leale-Green and also with The Financial Services Authority in the UK. In his new role he is based in Hong Kong and coordinates the firm's marketing efforts across the region. The sales teams report functionally to Jarvis and retain their location reporting lines. He commenced his role on August 1, replacing Anna Sils, who according to sources left the bank for personal reasons.
The bank has also created a new role in Singapore, where sources say its prime brokerage business has been one of the firm's strongest performers with a number of its key client relationships and future prospects based there. The firm has asked Alastair Sclater to head the prime brokerage business in Singapore effective immediately.
Sclater had led the firm's sales efforts in Singapore but insiders say this new overall prime brokerage role will allow him to efficiently coordinate sales, client service and relationship management. The Singapore team now reports location-wise to Sclater, while retaining their functional reporting lines.
As for several of its competitors, the Asia-Pacific region is one of UBS's fastest growing regions in the global prime brokerage business.
In May the bank appointed Lynden Howie to head its equity finance function for Asia ex-Japan. Howie relocated from UBS London where he had been head of the collateral trading team.